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Why is Lumentum Holdings Inc (LITE) Stock down?
We've noticed a 5.23% decline in Lumentum Holdings Inc (LITE) stock during the 2024-03-26 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
16 Aug, 2023:
Lumentum (LITE) stock drops 8.82% after rival Coherent's weak Q4 report, fueling concerns of similar challenges. Coherent's projected 58% earnings decline and 11% sales dip signal industry pressures. Macro headwinds and customer cautiousness affect both companies.
https://www.fool.com/investing/2023/08/16/why-lumentum-stock-is-sinking-today/
06 Apr, 2023:
Shares dropped 9.7% after the company withdrew its Q3 revenue guidance due to a network equipment manager no longer taking shipments they had previously projected, causing two firms to downgrade their ratings.
https://www.barrons.com/articles/lumentum-stock-price-earnings-sales-downgrade-28b3ee86
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